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Oct 4, 2012
10/12
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he said he wants to lower tax rates? how is that not lowering tabs for the rich. >> then you can't also then say he's going to on the loophole piece, you can't say he's not going to do the loopholes. i know you want to know the details. >> but i'm just saying, it might be cute about the son, burr the substance just isn't there. >> you're not willing to give him any credit. >> oh, yeah. >> the guy came very well prepared. he had specifics. >> he did? >> he looked obama in the eye. he was someone who was presidential and came ready to play. >> i'll tell you something, i am the only person as my pal dana has said, who thinks obama did well. so i know -- >> obama needs to step up his game. don't apologize for him. he's the president of the united states. he deserves to do better than that. >> i don't really believe he -- you really believe obama did well is this. >> yeah, i do. >> let's move on. >> moving on. you probably wondering what's eric bolling's favorite moment was? that is coming up in the next block. we'll have mor
he said he wants to lower tax rates? how is that not lowering tabs for the rich. >> then you can't also then say he's going to on the loophole piece, you can't say he's not going to do the loopholes. i know you want to know the details. >> but i'm just saying, it might be cute about the son, burr the substance just isn't there. >> you're not willing to give him any credit. >> oh, yeah. >> the guy came very well prepared. he had specifics. >> he did? >>...
WHUT (Howard University Television)
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Oct 4, 2012
10/12
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addressing romney's tax plan, obama said romney's effort to cut taxes for the wealthy would be to the gutting of essential government programs. box for 18 months he has been running on this tax plan. five weeks before the election, now he is saying his big, bold idea is, "never mind." the fact is, if you are lowering the rates the way you described, governor, then it is not possible to come up with enough deductions and loopholes that only affect high-income individuals to avoid either raising the deficit or burdening the middle class. it is math. >> mitt romney challenged obama's assertion that his tax plan would cost the country $five trillion in revenue, the knowledge to cut spending on government programs will drastically increasing funding for the military. in a jab that quickly exploded on twitter car romney told moderator jim lehrer he would cut funds to employer pbs, despite his love for certain sesame street character. >> i am sorry, jim, i'm going to stop the subsidy to pbs. i love big bird. i like you, too, but i am not one keep spending money on things to borrow money from
addressing romney's tax plan, obama said romney's effort to cut taxes for the wealthy would be to the gutting of essential government programs. box for 18 months he has been running on this tax plan. five weeks before the election, now he is saying his big, bold idea is, "never mind." the fact is, if you are lowering the rates the way you described, governor, then it is not possible to come up with enough deductions and loopholes that only affect high-income individuals to avoid...
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Oct 5, 2012
10/12
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but he has said before that he wants to cut taxes for all americans the basis of his tax plan is that he wants to cut taxes for everyone. that, to me, was the most stunning one liner of the night, actually. >> yeah, i think so. but i also think, dana, it also stunning that you would stand up there and act like americans can't do math. i mean, you can't have a plan and then when the plan equals $5 trillion, you can't say, that's not what i'm saying. i mean, it is absolutely insulting to the american people. if you believe in a plan, if you believe if your plan is workable and doable and better than the president's, say, that argue it, and let the voters vote. but don't turn around and act like we're crazy because we heard what you've been saying for the last 18 months. >> right. obama is now in a position to nail jello to the wall. you said that romney was lying on wednesday night. now, that's possible or it's possible he's now telling the truth and the others were lies. you can't have a tax cut of that size and not add to the deficit because there are not enough loopholes to close to
but he has said before that he wants to cut taxes for all americans the basis of his tax plan is that he wants to cut taxes for everyone. that, to me, was the most stunning one liner of the night, actually. >> yeah, i think so. but i also think, dana, it also stunning that you would stand up there and act like americans can't do math. i mean, you can't have a plan and then when the plan equals $5 trillion, you can't say, that's not what i'm saying. i mean, it is absolutely insulting to...
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Sep 30, 2012
09/12
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FBC
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lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing the foundation. lori: at the end of the day you need economic growth to be supportive of tax rates, and we are just come as you said, flat line at 1%. a revision, a downward revision. you know, hell are we going to get the overall growth rate higher? do we have to wait? obviously the election is so near, but are we just putting too much hope on to washington right now and not enough on good old fashion innovation and ingenuity? >> ingenuity and in this is great, but if government policies have their foot on the throats of the innovators and those who have the ability to create jobs it will take them somewhere e
lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing...
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Oct 3, 2012
10/12
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we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few suggestions. >> you could say everybody is going to get up to a $17,000 deduction and use your charitable deduction or your home mortgage deduction or others, health care deduction and fill that bucket, the $17,000 bucket that way and higher income people might have a lower number or do it by the same method that bowles-simpson did it, limiting certain deductions, that's the sort of thing you do with congress. >> so there you go. that's the sort of thing he's talking about. romney's campaign emphasized after the interview those ideas are actually not part of his plan writing -- mark halperin, as you know, i'm an easily confused person
we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few...
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Oct 3, 2012
10/12
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we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about how to beat the recession under a false name. [laughter] i'm not making it up. i'm really not making it up. i have to say, if i was chairman of the conservative party, i would have a false name too. there it is. [applause] but here's my farted one, of course, -- my favorite one of all. he made an appointment in order to resign but david cameron was too competent to know that he wanted to resign. he's still in the government. they are so useless, they can't even resign properly. it's up to us. let he say to you, one tbhaition it another way of avoiding the difficult decisions. it's a way of making
we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about...
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Oct 5, 2012
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they are right now, and then the other night he says, well, i don't want to actually cut the actual tax rate, i want to cut rates and then i want to increase deductions and give us effectively the same amount of taxes coming into the economy which leaves him with an unutterly incoherent record. with romney you have nothing and i think the message you will start hearing next week is going back to that old mondale commercial, where is the beef, show us the beef, because there ain't none there. >> john, before we eviscerate mitt romney entirely, he hasn't jumped on the bandwagon, though he did downplay the jobless rate, and he misstated the reason behind it. take a listen to this, john. >> the reason it's come down this year is primarily due to the fact that more and more people have just stopped looking for work. >> in fact, the unemployment rate fell because more people were working. i mean, this man's not capable of telling the truth about anything. >> well, he's actually correct in some past months but not in today's job. >> but he was speaking today. >> and so what he's doing now is h
they are right now, and then the other night he says, well, i don't want to actually cut the actual tax rate, i want to cut rates and then i want to increase deductions and give us effectively the same amount of taxes coming into the economy which leaves him with an unutterly incoherent record. with romney you have nothing and i think the message you will start hearing next week is going back to that old mondale commercial, where is the beef, show us the beef, because there ain't none there....
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Oct 5, 2012
10/12
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47% of americans, i'm not likely to be highly successful with the message of lowering taxes. you know, it's not elegantly stated. let me put it that way. i'm speaking off the cuff in response to a question. i have a very effective campaign that's doing a very good job, but not everything i say is elegant. >> mitt romney may have waited nine minutes before he stooped to talk about today's solid job numbers, but that's nothing because it took him 18 days to finally state the obvious about his videotaped comments where he dismissed 47% of the population. and while it's no apology, i guess better late than never. >> in a campaign with 100s if not thousands of speeches, now and then you will say something that doesn't come out right. in this time i said something that's completely wrong. >> joining us from washington is michelle cottle correspondent for news week and jonathan capehart, an opinion writer for "the washington post." john, if i might begin with you, psychological studies tell us that we tend to make the most radical changes in our lives up until our 23rd birthday on a
47% of americans, i'm not likely to be highly successful with the message of lowering taxes. you know, it's not elegantly stated. let me put it that way. i'm speaking off the cuff in response to a question. i have a very effective campaign that's doing a very good job, but not everything i say is elegant. >> mitt romney may have waited nine minutes before he stooped to talk about today's solid job numbers, but that's nothing because it took him 18 days to finally state the obvious about...
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Oct 5, 2012
10/12
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we cannot afford another round of tax cuts for the wealthy. we can't afford to gut our investments in education or clean energy or research and technology. we can't afford to roll back regulations on wall street banks or oil companies or insurance companies. that is not a jobs plan. it's not a plan to grow our economy. it's sure not a plan to strengthen our middle class. we have been there, we have tried that. we're not going back, we are moving forward. we have got a different view about how we create jobs and prosperity in this country. this country doesn't just succeed when just a few are doing well at the top. it succeeds when the middle class gets bigger. our economy doesn't grow from the top down, it grows from the middle out. we don't believe that anybody is entitled to success in this country, but we do believe in opportunity. we believe in a country where hard work pays off and responsibility is rewarded and everybody is getting a fair shot and everybody is doing their fair share and everybody is playing by the same rules. that's the
we cannot afford another round of tax cuts for the wealthy. we can't afford to gut our investments in education or clean energy or research and technology. we can't afford to roll back regulations on wall street banks or oil companies or insurance companies. that is not a jobs plan. it's not a plan to grow our economy. it's sure not a plan to strengthen our middle class. we have been there, we have tried that. we're not going back, we are moving forward. we have got a different view about how...
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Oct 4, 2012
10/12
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we cut taxes -- >> what will you do as president? >> i will sit down on day one -- actually the day i get elected my state. we met every monday and talked about the challenges in our state in that case. we have to work on a collaborative basis, not because we will compromise our principles, but because there is common ground. the reason i am in this race is because there are people hurting. we face this deficit that could crush future generations. there are developments a round the world that are of real concern. republicans and democrats both loved america, but we need to have leadership in washington that will bring people together and get the job done and could not care less if it is a republican or democrat. i have done it before, and i will do it again. >> i think gov. romney will have a busy first day because he is going to repeal obamacare which will not be popular among democrats if you are sitting down with them. my philosophy has been, i will take ideas from anybody as long as they are advancing the cause of making middle-c
we cut taxes -- >> what will you do as president? >> i will sit down on day one -- actually the day i get elected my state. we met every monday and talked about the challenges in our state in that case. we have to work on a collaborative basis, not because we will compromise our principles, but because there is common ground. the reason i am in this race is because there are people hurting. we face this deficit that could crush future generations. there are developments a round the...
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Oct 1, 2012
10/12
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the concept of automatically register in every one just as everyone we have to serve on a jury or pay taxes, very comfortable with that. one reason i'm incredibly comfortable with that is that in the 2018 election by think it was, 70 million people didn't vote and 80% of those people were unregistered seÓul registration is one of the biggest barriers to voting. also when we talk about things like purging people from voting rooms and about the provision about what's not being counted and people not being on the rule, a lot of that is directly related to the registration problem. so very comfortable with a voter registration. in terms of the mandatory voting its its local question and i think other countries do have mandatory voting just like the jury service or some people have to serve in the military in the compulsory service. one problem with it is i think we have a culture of liberty here in this country. so if we have mandatory voting i certainly think we would want to have a none of the above option so that people could exercise it. politically though we don't know if it is realistic.
the concept of automatically register in every one just as everyone we have to serve on a jury or pay taxes, very comfortable with that. one reason i'm incredibly comfortable with that is that in the 2018 election by think it was, 70 million people didn't vote and 80% of those people were unregistered seÓul registration is one of the biggest barriers to voting. also when we talk about things like purging people from voting rooms and about the provision about what's not being counted and people...
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the wealthy huge new tax breaks because according to experts he have to raise taxes on the middle class who are increased the deficit to pay for if we can't trust him here how could we ever trust him here. rather than acting like sportscasters this morning declaring mitt romney the winner in my opinion the media needs to be doing its job in fact checking but ultimately president obama did fail last night he failed at calling out mitt romney as an agent of the. president didn't mention romney's forty seven percent comments he didn't mention romney's tax dodging offshore tax havens he didn't mention romney's career harvesting businesses of bain and of the president can't make the argument that romney is only looking out for the one percent and in my opinion he's going to lose more on that prospect later and tonight is a daily take for now i want to turn things over to our politics panel our panel tonight andrew langer president is to for liberty richard follow the progressive strategist and brian darlene senior fellow at the heritage foundation thanks for all your years of joining me ever
the wealthy huge new tax breaks because according to experts he have to raise taxes on the middle class who are increased the deficit to pay for if we can't trust him here how could we ever trust him here. rather than acting like sportscasters this morning declaring mitt romney the winner in my opinion the media needs to be doing its job in fact checking but ultimately president obama did fail last night he failed at calling out mitt romney as an agent of the. president didn't mention romney's...
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Oct 4, 2012
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let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you interrupted me. >> here are the specifics. >> excuse me. >> let's talk the other big. >> no, no, let's not. let's let him respond to this specific on dodd-frank. >> some viewers also wondered why lehrer didn't challenge romney's attack on his own network, pbs. >> i'm going to stop the subsidy to pbs. i love big bird. actually like you, too, but i'm not going to keep on spending money to borrow money from china to pay for it. >> the web went wild for big bird. shame shame. mentions of big bird went up 800,000%. seriously, though. l lehrer with his criticized for not explaining dodd-frank and simpson bowles to the public. obama adviser s
let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you...
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Oct 4, 2012
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i call it the economy tax. it has been crushing. >> the cand dates will meet again on october caneth for debate number two. and up first, the only vice-president debate between the respect and paul ryan. >> that's the one we all want to see. thank you so much. >> the president and mitt romney not veering from their messages and taking every chance they could to hit one another on the policies. >> i know that you and your running mate is saying that and it is popular thing to say but it is not the case. i got five boys and i am used to people saying something that is not always true but keeping on repeating it and hoping i will believe it. that's not the case. i will not reduce taxes paid by high income americans. >> the fact is, if you low are the rates the way you describe, governor, it is not possible to come up with enough deductions and loop holes that only affect high income individuals to avoid raising the deficit or burdening the middle class. it is math. it is arithmetic. >> don't forget you put 90 bill
i call it the economy tax. it has been crushing. >> the cand dates will meet again on october caneth for debate number two. and up first, the only vice-president debate between the respect and paul ryan. >> that's the one we all want to see. thank you so much. >> the president and mitt romney not veering from their messages and taking every chance they could to hit one another on the policies. >> i know that you and your running mate is saying that and it is popular...
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income taxes eliminating the alternative minimum tax eliminating the estate tax and other tax reductions would reduce federal revenue four hundred eighty billion dollars in two thousand and fifteen and romney up until last night had never disputed that that that that that number has been around forever tax policy center study is flawed it is going to sell for has been running a twenty percent cut in taxes is a five trillion dollars in taxes over ten you know first of all that's not a tax increase in the middle class if you're cutting taxes i want to understand and i'm asserting it is all the president it what i wondering is why is romney disavowing it richard why is what i mean disavowing his own or the magistrate. i don't understand why he does the bowing his tax plan with this joseph who mitt romney is going to do anything to win and this is that what that shows he's going to depart from all of his conservative policies now he's the moderate mitt romney and the next the bit i guess is going to be conservative again with the put the quote i mean you know be the liberal neurontin exactly
income taxes eliminating the alternative minimum tax eliminating the estate tax and other tax reductions would reduce federal revenue four hundred eighty billion dollars in two thousand and fifteen and romney up until last night had never disputed that that that that that number has been around forever tax policy center study is flawed it is going to sell for has been running a twenty percent cut in taxes is a five trillion dollars in taxes over ten you know first of all that's not a tax...
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Sep 30, 2012
09/12
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one where he will not extend the bush tax cuts for the wealthiest americans. so the fiscal cliff is going to be folded in some way into renegotiating the tax cuts and how they get extended. i think he'll say it's a no-go, i'm not going to extend the bush tax cuts, so either we can negotiate it now and these few remaining weeks before christmas, or we have see the government shut down. i think there will be a little chicken game playing at the end of the year. what most people in washington likely think will happen is they'll negotiate some way to say here's a broad framework for what both sides want. let's work it out next year. >> sheila behr, i think americans are excited about the future. i'm glad people are feeling a little bit better about it, we all are. what has to happen so that a year if now we're not talking about the 9% versus the 1% and that there is some sense that banks are finally helping america move forward. >> it is your influence policies that jam the lens. the person they can get by lending into a still uncertain economy has. they can take
one where he will not extend the bush tax cuts for the wealthiest americans. so the fiscal cliff is going to be folded in some way into renegotiating the tax cuts and how they get extended. i think he'll say it's a no-go, i'm not going to extend the bush tax cuts, so either we can negotiate it now and these few remaining weeks before christmas, or we have see the government shut down. i think there will be a little chicken game playing at the end of the year. what most people in washington...
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Oct 3, 2012
10/12
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i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to do with you federal budget deficit up nine. dealing with china as an economic rival up eight. on the economy up three. changing business as usual in washington is dead even. if you are the obama campaign what concerns you the most here? the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong
i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to...
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Oct 4, 2012
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minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study nonpartisan that has looked at this has said that you know, unless you really tweaked the numbers, there's not justify money out there to fill that $5 trillion hole. >> so, glenn, the president said she's the guy plan to cut $4 trillion in the deficit. here's how he describes that plan. >> the way we do it is $2.50 for every cut, we ask for a dollar of additional revenue. governor romney earlier mentioned the bowles-simpson commission. well that's how the commission bipartisan commission, that talked about how we shou
minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study...
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Oct 8, 2012
10/12
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WBAL
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and president obama. >> he will ultimately have to raise taxes on middle income taxes by $4,000 a year. >> reporter: since last week's debate, which romney is widely regarded as having won, both sides argued the other was dishonest. >> he was a little taken aback at the brazenness with which governor romney walked away from so many of the positions on which he's run. >> reporter: their truth war now on tv. >> not telling the truth about mitt romney's tax plan. >> this was dishonest. >> i'm not in favor of a $5 trillion tax cut. >> the governor knows his $5 trillion tax cut isn't too popular, so a few weeks before the election, he's trying to pretend it doesn't exist. >> reporter: president obama at a star-studded fundraising concert, heads to san francisco today with romney's poll numbers improving. >> they're looking very good. >> reporter: after the debate, romney is within two points of the president. and tomorrow, both candidates head to ohio, battleground ohio, where early voting is already under way. tomorrow is the last day to register to vote there. veronica? >> thank you. mitt
and president obama. >> he will ultimately have to raise taxes on middle income taxes by $4,000 a year. >> reporter: since last week's debate, which romney is widely regarded as having won, both sides argued the other was dishonest. >> he was a little taken aback at the brazenness with which governor romney walked away from so many of the positions on which he's run. >> reporter: their truth war now on tv. >> not telling the truth about mitt romney's tax plan....
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Oct 2, 2012
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the tax policy center says taxes for almost 90%, 90% will go up by average of $3,500 with increases half a trillion dollars. automatic tax increases and deep spending cuts would kick in if the country goes over the fiscal cliff. >>> that is significant. look at some numbers. just, throw out numbers look that. doesn't really, doesn't really relate. can't put your mind around it. a married couple with two kids income of $100,000 would pay more, $6,000 more. and then, if some of the child deductions, obama's payroll tax cut, isn't renewed, you won the get tax breaks for each child as well. >> stiffest increases in the history. a big deal. we got to this point because of the super committee, bipartisan committee, did not get the job done. did not come up with a deal. this is what will trigger the fiscal cliff by the end of this year. so, no matter what happens november 6th. they got to get this done before 2013 gets here. >> you got to think they're going to. >> another showdown. the tenth time. >> we need one. >> moving on this morning. another major credit card company is going to pay up t
the tax policy center says taxes for almost 90%, 90% will go up by average of $3,500 with increases half a trillion dollars. automatic tax increases and deep spending cuts would kick in if the country goes over the fiscal cliff. >>> that is significant. look at some numbers. just, throw out numbers look that. doesn't really, doesn't really relate. can't put your mind around it. a married couple with two kids income of $100,000 would pay more, $6,000 more. and then, if some of the child...
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what romney is proposing is lowering tax rates, getting people back to work to generate tax revenues. he never said that taxes on the rich would make up for the deficit. president obama kept saying that. obviously he did not get how that works. tracy: listen to the sound bite from last night, mitt romney talking about the off shoring of businesses and tax businesses. >> to get a deduction for taking a plant overseas? i have been in business 25 years. i have no idea what you are talking about. i maybe need to get a new accountant, but the idea you get a break for sending jobs overseas is simply not the case. tracy: christian, was governor romney right on that point? >> no, he was actually wrong. earnings that do not subject to income tax money that is held offshore in effect incentivizing companies to have offshore jobs and keep the money outside the united states. i don't know where the governor was confused, but actually that is something that is a part of the tax code, he is wrong about that. tracy: there is no off shoring tax. you shut down a plant, fair enough, but no break for mo
what romney is proposing is lowering tax rates, getting people back to work to generate tax revenues. he never said that taxes on the rich would make up for the deficit. president obama kept saying that. obviously he did not get how that works. tracy: listen to the sound bite from last night, mitt romney talking about the off shoring of businesses and tax businesses. >> to get a deduction for taking a plant overseas? i have been in business 25 years. i have no idea what you are talking...
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Oct 2, 2012
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ten, 90% of households will see a tax hike averaging $3,500. economists are warning if congress drives off what is so-called the fiscal cliff, there will be automatic tax increases and deep spending cuts on january 1st. >>> the federal mortgage task force is filing its first action against a major bank. the civil lawsuit against jpmorgan chase alleges massive fraud involving mortgage-backed securities. rather than a specific deal, the complaint focuses on improper practices through bear stearns, which jpmorgan chase acquired after it went bust. >>> american express is agreeing to refund $85 million to credit card customers. federal agencies say the company charged improper late fees and deceived credit card customers about old debts and new services. >>> there is a major recall from honda this morning. it affects 600,000 accords with v6 engines from 2003 to 2007. the power steering might come loose and leak fluid causing a fire. only one fire has been reported thus far. honda will replace the hoses for free but won't have replacement parts avai
ten, 90% of households will see a tax hike averaging $3,500. economists are warning if congress drives off what is so-called the fiscal cliff, there will be automatic tax increases and deep spending cuts on january 1st. >>> the federal mortgage task force is filing its first action against a major bank. the civil lawsuit against jpmorgan chase alleges massive fraud involving mortgage-backed securities. rather than a specific deal, the complaint focuses on improper practices through...
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Oct 5, 2012
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he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zero, i think, is wrong. and once you relax that assumption, then, all of a sudden, other things start to be possible. >> reporter: but it's hard to be sure about the impact of tax cuts on the economy, which is why the experts in congress and the treasury who are responsible for estimating the cost of tax changes generally ignore the impact of tax reforms on the entire economy. darren gersh, nbr, washington. >> susie: here on wall street, traders and investors were taking a fresh look at stock sectors today, assessing what a romney or obama win would mean for the markets. also a lot of talk about minutes from the latest fe
he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zero, i...
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this is a tax and itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of trading programs. -- training programs. the present mission of those ideas. education. it is key. it is the future of our economy. we have 47 training company -- programs. they are reporting to eight agencies. we have to get those dollars back to the states and go to the workers so they can create their pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies. in spite of his policies. all of the increase in natu
this is a tax and itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of trading programs. -- training programs. the present mission of those ideas. education. it is key. it is the future of our economy. we have 47 training company -- programs. they are reporting to eight agencies. we have to...
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he would repeal the alternative minimum tax and repeal the estate tax. they said mitt romney's tax plan would cost $4.8 trillion over ten years. he said his plan would be paid for but to pay for those he would have to close loopholes and get rid of some tax deductions, he said, and tax credits, but he's repeatedly refused to say which deductions he would get rid of saying he would work with congress to make those decisions. also president obama said his plan would cut the deficit by $4 trillion. >> we all know that we've got to do more so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left leaning center on budget and policy priorities. 3.8 trillion to be exact over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's also counting $1 trillion in savings over ten years by drawing down the wars in iraq and afghanistan. t
he would repeal the alternative minimum tax and repeal the estate tax. they said mitt romney's tax plan would cost $4.8 trillion over ten years. he said his plan would be paid for but to pay for those he would have to close loopholes and get rid of some tax deductions, he said, and tax credits, but he's repeatedly refused to say which deductions he would get rid of saying he would work with congress to make those decisions. also president obama said his plan would cut the deficit by $4...
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Oct 4, 2012
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the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made assumptions that were not part of mitt romney's tax plan. there are six or seven follow-up studies that say romney's tax plan can do what the governor has said he would. he's going to eliminate or cap deductions on upper income brackets there is more enough in the basket of choices there to take care of providing the to 20% tax reduction to the middle class. >> no, there are not. >> with all due respect to what obama people are putting out, they're wrong on it. >> i'm not talking about what the obama people are talking. first of all, those a
the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made...
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tax cut, isn't renewed, you won the get tax breaks for each child as well. >> stiffest increases in the history. a big deal. we got to this point because of the super committee, bipartisan committee, did not get the job done. did not come up with a deal. this is what will trigger the fiscal cliff by the end of this year. so, no matter what happens november 6th. they got to get this done before 2013 gets here. >> you got to think they're going to. >> another showdown. the tenth time. >> we need one. >> moving on this morning. another major credit card company is going to pay up to seattle, to settle claims of illegal practices. american express will refund $85 million to 250,000 customers out there. and amex accused of violating federal laws in marketing and billing. the company will pay million in fines. similar claims, were settled with capital one and discover. >>> well a decorated philadelphia police officer is facing brutality charges after punching a woman attending a parade. the confrontation was captured on video sunday. it is going to happen on the left side of the screen. after
tax cut, isn't renewed, you won the get tax breaks for each child as well. >> stiffest increases in the history. a big deal. we got to this point because of the super committee, bipartisan committee, did not get the job done. did not come up with a deal. this is what will trigger the fiscal cliff by the end of this year. so, no matter what happens november 6th. they got to get this done before 2013 gets here. >> you got to think they're going to. >> another showdown. the tenth...
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Oct 8, 2012
10/12
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overall taxes that they pay and the overall tax plan would be tax neutral. i mean, it would be revenue neutral. the other piece is you mentioned this other story -- >> the story is specifics, hasn't it? >> i'll keep going back to this to seep the record straight. you all talking about this story that mitt romney had been saying and reported in other places that this is a new softer side of mitt romney. he's been telling that story for months. and so, i mean, this is all just sort of a generated media narrative that he is coming up with all sorts of new policies and new touching stories. this is, you know, what's great about last week is it's our opportunity to present an unfiltered mitt romney versus an unfiltered barack obama and the choice was houistorically. >> let's ask you then about specifically what the panelist talked about, the thing that a lot of analysts are watching is are the polls going to move in the swing states? it is early to tell. the jobs numbers may factor in to this. can mitt romney move the polls in a place like ohio? where before the
overall taxes that they pay and the overall tax plan would be tax neutral. i mean, it would be revenue neutral. the other piece is you mentioned this other story -- >> the story is specifics, hasn't it? >> i'll keep going back to this to seep the record straight. you all talking about this story that mitt romney had been saying and reported in other places that this is a new softer side of mitt romney. he's been telling that story for months. and so, i mean, this is all just sort of...
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he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by bowles-simpson, get the rate down to create more jobs. nothing better to create a balanced budget than having more people working, earning more money, paying more taxes, that's the most effective and efficient way to get the budget balanced. >> jim, you may want to move on to another topic. i would say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion of additional spending to the military that is not asking for, $7 trillion, to give you a sense, over ten years, that's more than our entire defense budget, and you think that by closing loop
he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the...
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and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b
and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your...